Taoiseach announces €100m in funding to develop student accommodation

The Government has committed to investing €100 million in developments that will deliver 1,000 student accommodation beds.

The investment was announced by Taoiseach Simon Harris and Minister for Higher Education Patrick O’Donovan on Thursday.

At a media conference outside Government Buildings, Mr Harris said it would allow 493 new beds to be developed in UCD, the progression of 405 new beds in DCU through tender stage and would help finance 116 new beds in Maynooth University to the construction stage.

He confirmed that the State funding would be in return for 30 per cent of the newly-built beds being made available for use by students who are eligible for SUSI grants or belong to priority categories at a discounted rate of rent.

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“We must do everything we can to make college as affordable and as accessible as possible. No one should have to turn down a college place, or their dreams of pursuing higher education, because they can’t access an affordable bed,” said Mr Harris.

He told the conference that construction would start on two of the projects in early 2025.

“Any funding that we invest there’s a quid pro quo that ... a proportion of the beds needs to be at a fixed rate [of rent] and offered at below market rates,” he said.

Mr O’Donovan said the long-term policy on student accommodation would include a focus on technological universities as part of balanced region approach to ensuring students had a place to stay while studying there. He also said the policy would also look at the possibilities of refurbishment and vacancy to deliver additional supply.

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